Tag Archives: auct

Stocks in the news (aot, beauty, chewa, ivl, nch, nwr, pttgc, ratch, samart, sithai, smart, ticon, tks, tsf, auct) 13.09.16

AOT
AOT opening bidding for four contracts for Suvarnabhumi Phase ll. It expects to solicit bids for two contracts this year and will sell the bidding documents in October. It expects to raise its passenger capacity to 60mn passengers per year from 45mn passengers per year now. (Thun Hoon, 13/09/16)
Comment: Having just returned from JKT on the late night flight you can see both the arrival and departure halls bustling with passengers. I would be surprised to see capacity issues hitting AOT within the next 12 months 
 
BEAUTY
BEAUTY expects 3Q16 earnings to be good, supported by more demand. It expects 2016 revenue to grow no less than 20% from Bt1.79bn in 2015. There is progress in talks regarding distributors in Hong Kong and Taiwan and it expects a decision in 4Q16. (Thun Hoon, 13/09/16)
CHEWA
CHEWA targets three-year revenue growth of 20% annually, supported by developing new projects and buying property projects that already have their EIA. It plans to launch its first lowrise project worth Bt500mn at the end of October. (Kao Hoon, 13/0 9/16)
Comment: Its an interesting smaller property developer. But as always with this business model, scalability is an issue
 
IVL
IVL has closed the deal for a JV with Dhunseri Petrochem Limited in India. This will lift PET capacity to 700K tons per year, making it India’s second-largest producer. (Thun Hoon, 13/09/16)
Comment: Another acquisition, he’s well on his way to catching up to Reliance, but is such a strategy necessarily good for minority equity shareholders?
 
NCH
NCH launches single-house project worth Bt680mn and has sold 24 units worth more than Bt78mn. (Kao Hoon, 13/09/16)

Continue reading Stocks in the news (aot, beauty, chewa, ivl, nch, nwr, pttgc, ratch, samart, sithai, smart, ticon, tks, tsf, auct) 13.09.16

Stocks in the news (auct, bafs, demco, dsgt, ecf, egco, ktb, nep, richy, seafco, simat, super, tsr, tta, vte) 05.09.16

AUCT
AUCT expects to have good news soon. It expects 2H16 to be growth and expects 3Q16 to recovery due to car bidding is recovery; It had bid for a 30k car in 1H16. (Thun Hoon, 05/09/16)
BAFS
BAFS expects 2016 revenue and profit to record a new high, as volume increases with the number of flights. It expects 2H16 to grow due to high season. (Kao Hoon, 05/09/16)
Comment: And with the continued expansion of the Airport this company is sitting pretty
DEMCO
DEMCO expects its business to pass bottom after the budget for repairing Huay Bong 2-3 has been settled. It expects 2H16 to be in the black. It is confident that 2016 revenue will reach its target of Bt6bn, growth of 10-15%, supported by more than Bt6.4bn in backlog waiting to be booked. (Kao Hoon, 05/09/16)
Comment: Should this issue pass, then the last issue will be with WEH potential IPO – if/when that will occur
 
DSGT
DSGT expects 2016 revenue to be better than 2015’s revenue of Bt7.5bn, backed by customer expansion and expansion in Thailand and abroad. It plans to launch a big campaign to stimulate sales. (Thun Hoon, 05/09/16)
Comment: Just out at lunch time was the news that a PE firm has bid for THB 5.00/share for all of DSGT
ECF
ECF expects 2016 revenue growth 12-15% due to furniture business is recovery. It plans to negotiate with partner to invest in power plant in Thailand and abroad which expects to conclude in 3Q16. Recently, It signed MOU with AF to do a factoring loan to members and supplier. (Kao Hoon, 05/09/1 6)
EGCO
EGCO expects 2016 operating profit to exceed Bt8bn, growth of over 5%, after reporting operating profit of Bt4.3bn in 1H16. It continues to expand electricity business in Thailand and abroad and expects capacity to reach 5,000MW by 2019. (Kao Hoon , 05/09/16)
KTB
KTB rejigs loan price formula. Krungthai Bank (KTB), the country’s largest state-owned bank by assets, has revised its pricing formula for government and state enterprise loans to be more competitive after significant falls over the past few years. (Bangkok Post, 05/09/16)

Continue reading Stocks in the news (auct, bafs, demco, dsgt, ecf, egco, ktb, nep, richy, seafco, simat, super, tsr, tta, vte) 05.09.16

Stocks in the news (ah, arrow, auct, bm, ctw, gel, intuch, k, malee, mc, pace, pf, plat, pttgc, rml, ttcl, tu, vte) 18.08.16

AH
AH expects 2016 revenue to grow 5% from last year’s Bt15.1bn due to large orders. It will pay a dividend of Bt0.33/share, XD on Aug 26, PD on Sep 9. (Thun Hoon, 18/08/16)
Comment: And the company has been doing share buybacks for the past few months
 
ARROW
ARROW expects 2H16 earnings to be good backed by Bt240mn backlog. It expects 2016 revenue to reach Bt1.4mn with gross margin at 25-30%. Its 1H16 net profit was Bt126mn. It will pay a dividend of Bt0.2/share, XD Aug 23. (Khao Hoon, 18/08/16)
Comment: We’ve questioned whether they have the capacity necessary to fulfill all the potential market demand and their current valuations
 
AUCT
AUCT expects 3Q16 earnings to be good brought by extra items from public bids. It plans to take part in 1-2 bids, and expects to know the results this year. It expects auction 60,000 vehicles this year. (Thun Hoon, 18/08/16)
BM
BM reported 1H16 net profit of Bt23mn, up 68.32% with revenue of Bt384mn, up 5.55%, backed by higher sales, especially from selling racks and conduits. (Khao Hoon, 18/08/16)
CTW
CTW expects 3Q16 earnings to be good supported by cable projects from ITD such as Suvarnabhumi phase 2, MRT Orange, Pink and Yellow lines, the Dawei project, and moving cables underground. (Thun Hoon, 18/08/16)

Continue reading Stocks in the news (ah, arrow, auct, bm, ctw, gel, intuch, k, malee, mc, pace, pf, plat, pttgc, rml, ttcl, tu, vte) 18.08.16

Stocks in the news (advanc, auct, bjchi css, itd, ksl, lh, oishi, qtc, scc, super, tasco, thai, tnp, vgi) 18.04.16

ADVANC
AIS board ‘to decide on new license bid’. ADVANCED Info Service has yet to confirm if it will participate in the new round of bidding for a 900MHz licence. Chief executive officer Somchai Lertsutiwong said yesterday the company board would make a final decision on the matter. The junta also ordered the NBTC to extend further the period AIS has to shut down its second generation cellular service it operates on 900MHz till June 30 or the date the NBTC will award the 900MHz licence to the winning bidder – whichever comes first.The previous deadline was April 14. Somchai said AIS would not ask for any further extension. (The Nation, 13/04/16)
Comment: There are still many questions regarding this…if they rejected it before why purchase at this price? If they’ve already spent a substantial amount of capex, wouldn’t this hurt their balance sheet? Is the price definitely going to start @ thb 75 bn? 
AUCT
AUCT expects margin to be higher than 50% thanks to the 4G auction. (Thun Hoon, 18/04/16)
BJCHI
BJCHI expects 1Q16 net profit of Bt490mn brought by TUPI project. It says it has high potential projects of Bt6.5bn. It expects to get the Bt2.8bn TUPI FPSO#3 in April. It targets 2016 revenue to grow 15%. (ASTV, 18/04/16)
Comment: And they still continue to grow despite all the volatility in oil prices
CSS
CSS’s backlog is Bt1.3bn backed by telecommunication projects. It plans to take part in bids and expects 2016 revenue to reach Bt5.3bn (15-20% growth). It will pay a dividend of Bt0.1/share, XD on April 19. (Khao Hoon, 18/04/16)

Continue reading Stocks in the news (advanc, auct, bjchi css, itd, ksl, lh, oishi, qtc, scc, super, tasco, thai, tnp, vgi) 18.04.16

Stocks in the news (auct, bay, css, ea, genco, global, polar, samco, smt, syntec, tcmc, uac, vgi) 28.01.16

AUCT
AUCT expects used car tent market to be good. It expects 20% growth in used cars to be put up for auction after the new tax structure has raised selling prices. It expects to be win the auction management contract for the public sector after its successful 4G spectrum auction. It expects 2016 revenue to grow 10%. It plans to add property to its auctions. (Thun Hoon, 28/01/16)
Comment: It would be interesting to see how far they can take the auction business into other segments, but their bread and butter is still the auctioning of cars and bikes
BAY
BAY acquired HKL, top micro finance company in Cambodia for Bt16bn. It expects this to support its expansion in CLMV, focusing on personal loans and microfinance. (Thun Hoon, 28/01/16)
Comment: Now this is an interesting development….why can’t Thai companies be more present in the region?
CCET
Taiwanese investors are interested in investing in CCET, planning to increase its capacity. They expect CCET to be their #1 supplier. It plans to focus on high margin products. It expects 2015 net profit to mark a record high backed by seasonality and the baht depreciation in 4Q15 earnings. (Thun Hoon, 28/01/16)
CSS
CSS expects 1Q16 earnings to be good despite no new projects. It expects to recognize income from Bt400-500mn in backlog. It expects 2Q16 to bring in projects from TRUE and ADVANC. It is interested in investing in alternative energy to diversify risk and increase revenue. (Thun Hoon, 28/01/16)

Continue reading Stocks in the news (auct, bay, css, ea, genco, global, polar, samco, smt, syntec, tcmc, uac, vgi) 28.01.16

Stocks in the news (auct, css, dtac, egco, mc, pstc, q-con, smpc, spali, tse, true) 26.11.15

AUCT
AUCT will focus on urban areas in the east next year and is preparing to expand its line of business to boost revenue. (Khao Hoon, 26/11/15)
Comment: Still a wonderful asset-light business model, but don’t care much for its valuation at the moment

CSS
CSS expects to have 2015 revenue of Bt4.8bn and get a project in Myanmar on the boom in communication. Its current backlog is now Bt1.3bn. (Thun Hoon, 26/11/15)
Comment: With a backlog of only thb 1.3bn there’s no way it can justify its current valuation….but retail seems to believe otherwise, management obviously doesn’t give his continuous selling of stock

DTAC
DTAC reports that roaming data usage this year has grown 50% with voice roaming slipping around 10%. Total revenue from roaming is Bt600mn, close to last year. (Khao Hoon, 26/11/15)

EGCO
EGCO plans to 5-year investment of Bt91bn in order to expand power plants. It expects to generate profit of Bt10bn in 2017. (Thun Hoon, 26/11/15)
Comment: There’s something interesting happening here with EGCO being one of the few utility companies to potentially grow 20% p.a. for the next 5 years.

Continue reading Stocks in the news (auct, css, dtac, egco, mc, pstc, q-con, smpc, spali, tse, true) 26.11.15

Stocks in the news (auct, ee, gcap, gold, gpsc, kkp, ksl, ktb, nep, polar, pttgc, siri, snc, spali, ureka, wice) 10.11.15

AUCT
AUCT expects 3Q15 earnings of Bt58mn (+8%). 4Q15 net profit is expected to be good aided by seasonality. It expects this to raise 2015 net profit to Bt227mn (+12.5%). It has applied to join the 4G auction. (Khao Hoon, 10/11/15)
Comment: We think that the news is slightly incorrect for AUCT, more that AUCT would love to be the firm holding the auction on behalf of the government

EE
EE expects 4Q15 earnings to turn around backed by orders from China from ethanol stimulus measures. It expects 2016 net profit to be good aided by 240MW power plants. It plans to wipe out retained loss of Bt684.36mn with dividend payout of 40% as is its policy. (Thun Hoon, 10/11/15)

GCAP
GCAP is talking to a prospective partner to expand its business, lending on agricultural machines, which it expects to finalize soon. It targets 2015 loans for crepe rubber machines to reach Bt20mn from the addition of customers. It expects 3Q15 earnings to be good backed by increased demand for loans. It plans to expand to corporate loans in 2016. (Thun Hoon, 10/11/15)
Comment: A rather interesting little company, but has the decrease in agricultural prices killed its target market?

GOLD
GOLD’s board has approved a capital increase of 685.7mn shares for PP to FPHT at Bt7.25/share, equal to Bt4.97bn. It plans to use the funds from the capital increase for new projects. It reported 3Q15 earnings of Bt133.52mn (+71%) with revenue of Bt2bn. It plans to pay an interim dividend of Bt0.05/share, XD on Nov 19, PD on Dec 3. (Thun Hoon, 10/11/15)
Comment: Ah well, people are still holding out for the REIT

Continue reading Stocks in the news (auct, ee, gcap, gold, gpsc, kkp, ksl, ktb, nep, polar, pttgc, siri, snc, spali, ureka, wice) 10.11.15

Stocks in the news (anan, auct, fsmart, ilink, jas, kce, lhbank, ml, pace, planb, sat, seafco, tkt, tpch, trubb, tsr) 14.10.15

ANAN
ANAN says its backlog is Bt36bn of which Bt6bn is expected to be booked in 4Q15. It plans to launch two condominium projects at Bang Sue and Silom valued at Bt8bn. (Khao Hoon, 14/10/15)
AUCT
AUCT expects to get 4G auction system project management from NBTC. It expects this to contribute revenue in 4Q15. It expects 3Q15 earnings to be good. It expects to revise up revenue by 20-40%. It plans to bid for a condominium in 4Q15. (Thun Hoon, 14/10/15)
Comment: That is quite interesting, if you remember the interview posted within the past few weeks, AUCT was hinting towards being able to auction any and every type of product
FSMART
FSMART expects 2015 earnings to be good. It targets 57,000 Boon Term Top Up machines by the end of this year. It expects 2H15 earnings to be better backed by new products. It expects 2015 revenue to grow 30% as targeted. (Thun Hoon, 14/10/15)
Comments: And the cash machine still continues to grow and grow
ILINK
ILINK expects to get a Bt3bn project from PEA which is expected to put up for bid this year. It expects 2015 revenue of Bt3bn on the back of a Bt2bn submarine cable project at Ko Pha Ngan. It expects the telecom market to grow 100% because of the moves toward a “digital economy”. It plans to list Interlink Telecom next year. (Thun Hoon, 14/10/15)
Comment: Still one of the biggest beneficiaries in the “digital economy” market

Continue reading Stocks in the news (anan, auct, fsmart, ilink, jas, kce, lhbank, ml, pace, planb, sat, seafco, tkt, tpch, trubb, tsr) 14.10.15

Co Visit: Union Auction Plc (AUCT)

Union Auction Plc (AUCT), which listed on the Market for Alternative Investment (MAI) in August 2013, is Thailand’s largest automotive vehicle auction company, with coverage throughout the country. Deputy managing director Varunyoo Sila discusses the company’s strategy and outlook.

Please explain Union Auction’s history.

We began in August 1991 under the management of Thepthai Sila. He saw the potential of the automobile auction services business for Thailand, as the industry was still in its infancy compared with developed markets such as the US and Japan.
We were the first in Thailand to conduct open automobile auctions, and because we used a transparent auction process, the Financial Sector Restructuring Authority assigned us during the 1997 Asian financial crisis to conduct auctions for all types of properties of insolvent financial companies. We’re the only Thai firm, and only the second in Asia after one in Japan, to become a member of the US-based National Auto Auction Association. Over the years, we’ve expanded our locations and offerings to include other types of assets, in line with customer demand. We also listed on the MAI to enhance the company’s brand and transparency and fund our expansion.

Please explain Union Auction’s business.

We are an intermediary that conducts auctions of all types of properties as well as other auction-related services. The latter include transport of properties to be auctioned, helping bidders to seek funds by liaising with financial firms and consignment of properties for which bidding was not successful. Today we have more than a 50% market share with 15 bidding sites and 26 property storage facilities in 24 provinces, giving us the highest coverage in the business. Automobiles represent the largest portion of assets auctioned at nearly 90%, with the rest being motorcycles and other assets. Last year, we transacted more than 100,000 units.

auct
Mr Varunyoo believes transparency fosters trust and loyalty.

Who are Union Auction’s customers?

Our customers are both the suppliers and the purchasers of assets. On the supply side we work closely with entities such as financial institutions and leasing companies that have seized automobiles, car rental companies with vehicles that have reached the end of their useful economic lives, general businesses with company cars, used-car “tents” or garages and individuals who wish to dispose of their vehicles. On the purchaser side, 70% of our customers are used-car “tents” or garages and 30% end-users. We’re also proud of the fact that 70% of our customers are repeat customers that know us and our services well. Continue reading Co Visit: Union Auction Plc (AUCT)